Top 5 Resources: Bonanza’s Golden Blows, more green hydrogen and extraction of “super mineral” molybdenum
- Great Boulder Resources reaches up to 150 g / t gold on ‘Side Well’ project
- Qx Resources is now “well advanced” with project development work for the advanced “Anthony” molybdenum deposit
- Fin Extends Scope of Recently Acquired “North Onslow Solar Salt Project” to Include Potential Green Hydrogen Production
Here are the biggest winners of small-cap resources in morning trading Thursday, September 2.
Is the sentiment for gold starting to stir?
Bettors are reacting positively to remarkable gold drilling results, with Great Boulder Resources the latest explorer to make substantial gains.
New tests of “Mulga Bill” – which is part of the “Side Well” project in WA – returned “the highest scores ever recorded”, including:
- 14m @ 36.12g / t gold from 91m, incl. 3m @ 149.89g / t from 91m
- 6m @ 24.33g / t gold from 132m, incl. 4m @ 34.86g / t from 134m
- 2m @ 9.61g / t gold from 100m
The bonanza area remains open in all directions, according to the company.
“Considering its location, size and the results we’ve seen so far, I think Mulga Bill has the potential to have a gold endowment of over one million ounces,” said the Great Boulder Managing Director Andrew Paterson.
The 9 hole assays have yet to come from ‘Mulga Bill’, with the results of diamond and air drilling programs equally outstanding.
“These holes were drilled in early July, indicating that assay results are currently taking 8 weeks to be released,” Paterson said.
“We have more than 4,000 samples in preparation which we will publish as soon as the results are available. “
The $ 47.5 million market cap explorer is up 35% in the past month and 170% year-to-date.
The company is now “well advanced” with project development work for the advanced “Anthony” molybdenum deposit in Queensland.
Molybdenum is a certified “super mineral”.
It is used with steel to form an ultra-high strength steel which, when combined with nickel, forms an alloy that is highly resistant to heat and corrosion.
It can also withstand extreme temperatures without significantly expanding or softening, making it useful in military armor, aircraft parts, electrical contacts, industrial motors, and filament holders in light bulbs.
Qx estimates that it is possible to mine and treat the 20 million tonnes of oxide (near the surface) previously neglected at Anthony.
“Previous work has focused on modeling the higher grade sulphide ore that is located 60 to 80 m below the surface without taking into account the very large oxide resource present from the surface at 70 m,” said Roger Jackson, director of Qx.
“…we believe [the oxide ore] can be extracted and processed for potential customers in the chemical and agro-industrial sectors.
“The oxide zone is exposed on the surface and, being weathered, lends itself to low cost mining and crushing. “
The company is also making solid progress on a larger scale exploration program on its gold projects following a successful first “Lucky Break” drill program.
Highlighted shots included 2 m at 9 g / t, 4 m from the surface.
“Other targets have been identified and we plan to begin work on the site within the next two weeks before proceeding with further drilling,” Jackson said.
“An update will be provided shortly. “
The stock’s $ 8 million market cap is up 30% over the past month but is down 35% year-to-date.
Fin is expanding the reach of its recently acquired North Onslow Solar Salt Project (NOSSP) to include the potential production of green hydrogen.
The first stage of the project under evaluation envisages up to 1Mtpa of high quality industrial salt production for an integrated chlor-alkali plant.
Surplus industrial salt and high quality SOPs will be sold in national and international markets.
Sodium hydroxide (caustic soda) is the most valuable component in the production of chlor-alkali and is a key raw material used in the refining of alumina and the manufacture of paper, textiles, drinking water, of soaps and detergents, Fin explains.
“Chlorine and hydrogen are also produced via the chlor-alkali process and can be combined to produce hydrochloric acid, a key industrial chemical primarily used in the refining of metals, including for the production of minerals and ‘critical steel,’ he says.
A second step could dramatically expand renewable energy production, incorporate desalination into the solar salt production process, and produce additional green hydrogen on a larger scale.
“The medium and long term opportunity is to supply green hydrogen or a by-product, such as ammonia, once the market demand for such products has been established and it is economically viable,” said declared End.
The $ 24 million market-cap stock is up 17.5% in the past month and 57% year-to-date.
Of all the critical metals that are expected to benefit from the impending surge in demand for electric vehicles, none are expected to have a greater impact than manganese.
The $ 31 million market-cap manganese explorer is now up 45% since dusting off the shallow, high-quality hits from the ancient diamond core on Wednesday.
The historic core of the flagship “Oakover” project in WA has returned such notable successes as:
- 9m @ 13.0% Mn of 6.9m (Sixty Sixer prospect)
- 0m @ 13.2% Mn from 5m (Jay Eye prospect), and
- 4m @ 12.8% Mn of the surface (Karen prospect).
“Finding these untested historic drill core has been a real bonus for us,” said Peter Allen, Managing Director of Firebird.
“The results clearly support previous exploration work and demonstrate significant manganese interceptions that are generally higher than the previously inferred mineral resource estimate. “
An 11,500m RC drilling program at Oakover is on track, with 2,928m completed.
The results will start to be felt over the next few weeks, according to the company.
Exploration continues to gain momentum on several targets in three highly endowed regions – Julimar (WA), the Lachlan Fold Belt (NSW) and Alligator Rivers Uranium Province (NT).
The industrious and well-funded explorer is planning an RC drilling campaign on the “Sovereign” nickel-copper-PGE project – right next to the world-class Chalice Julimar discovery (ASX: CHN) – in the coming months.
Drilling is also underway on the ‘Wilga Downs’ gold base metals project in the Lachlan Fold of NSW, with results expected very soon.
At the “Nabarlek” project – with the Alligator Rivers uranium province – a project-wide targeting exercise and fieldwork is underway on several prospects.
The $ 90 million market cap share is up 15% in the past month and 20% year-to-date.